<p>IT services stocks drove Indian markets to a record high in the first trading session of 2021, as continued foreign fund inflows and expectations of imminent Covid-19 vaccine roll-outs kept investors bullish.</p>.<p>The blue-chip NSE Nifty 50 index rose 0.34% to 14,029.70 by 0515 GMT on Friday and the benchmark S&P BSE Sensex climbed 0.36% to 47,922.14.</p>.<p>The Nifty gained 14.9% in 2020 and the Sensex added 15.75%, both marking their best yearly performance since 2017. Both the indexes recovered more than 86% from March lows, boosted by liquidity support measures from global central banks and progress on the Covid-19 vaccine front.</p>.<p>"In spite of the market being heated up, foreign institutional investment flows continue... risk-on sentiment is prevailing, and money will keep pouring into markets like India," said Aishvarya Dadheech, a fund manager at Ambit Asset Management in Mumbai. "It is a very liquid market."</p>.<p>Investors are eyeing a meeting of the Indian drug regulator later in the day to consider approving AstraZeneca and Oxford University's Covid-19 vaccine for emergency use.</p>.<p>The Nifty IT index was up 0.95%, with heavyweight Tata Consultancy Services being the biggest boost to the Nifty 50.</p>.<p>Among individual stocks, Mahindra and Mahindra rose 2.2% and was the top percentage gainer on the Nifty. US automaker Ford Motor and Mahindra have called off their automotive joint venture due to challenges caused by the pandemic.</p>.<p>The Nifty Auto Index was up 0.66%. Indian automakers will be reporting December sales numbers on Friday. Tractor maker Escorts rose 2.2% after reporting an 88% surge in sales. Maruti Suzuki India was up 0.8% after reporting a 20% rise in sales.</p>.<p>Municipal solid waste management company Antony Waste Handling Cell jumped nearly 40% in its market debut.</p>.<p>Most markets across the world are closed for New Year's Day.</p>
<p>IT services stocks drove Indian markets to a record high in the first trading session of 2021, as continued foreign fund inflows and expectations of imminent Covid-19 vaccine roll-outs kept investors bullish.</p>.<p>The blue-chip NSE Nifty 50 index rose 0.34% to 14,029.70 by 0515 GMT on Friday and the benchmark S&P BSE Sensex climbed 0.36% to 47,922.14.</p>.<p>The Nifty gained 14.9% in 2020 and the Sensex added 15.75%, both marking their best yearly performance since 2017. Both the indexes recovered more than 86% from March lows, boosted by liquidity support measures from global central banks and progress on the Covid-19 vaccine front.</p>.<p>"In spite of the market being heated up, foreign institutional investment flows continue... risk-on sentiment is prevailing, and money will keep pouring into markets like India," said Aishvarya Dadheech, a fund manager at Ambit Asset Management in Mumbai. "It is a very liquid market."</p>.<p>Investors are eyeing a meeting of the Indian drug regulator later in the day to consider approving AstraZeneca and Oxford University's Covid-19 vaccine for emergency use.</p>.<p>The Nifty IT index was up 0.95%, with heavyweight Tata Consultancy Services being the biggest boost to the Nifty 50.</p>.<p>Among individual stocks, Mahindra and Mahindra rose 2.2% and was the top percentage gainer on the Nifty. US automaker Ford Motor and Mahindra have called off their automotive joint venture due to challenges caused by the pandemic.</p>.<p>The Nifty Auto Index was up 0.66%. Indian automakers will be reporting December sales numbers on Friday. Tractor maker Escorts rose 2.2% after reporting an 88% surge in sales. Maruti Suzuki India was up 0.8% after reporting a 20% rise in sales.</p>.<p>Municipal solid waste management company Antony Waste Handling Cell jumped nearly 40% in its market debut.</p>.<p>Most markets across the world are closed for New Year's Day.</p>